7597 - 7585 Rue Édouard,
Montréal (LaSalle), H8P1S6

Description of the property for sale

Well-maintained 7-plex in Lasalle, Montreal, just 4 minutes from the St. Lawrence River. This property offers great income potential and is perfect for investors. The building includes 6 residential units (1 x 5½, 1 x 3½, 4 x 4½), with the first-floor units converted from commercial space in 2006. A long-standing depanneur occupies the only commercial space, with a lease running until 2028. Tenants pay electricity, and the owner's costs are limited to municipal taxes, school taxes, and insurance. Stable income and growth potential!

Well-Maintained 7-Plex in Lasalle, Montreal -- Excellent Investment Opportunity

This well-maintained 7-plex in the desirable Lasalle neighborhood of Montreal offers solid revenue and is an ideal investment for those looking to enter the real estate market. Located on a corner lot in a quiet residential area, this property is just a 4-minute walk from the St. Lawrence River and is easy to rent out, making it a highly attractive investment.

Purchased by the current owner in 2000, the building has been meticulously maintained and kept in excellent condition over the past 25 years. The property consists of 6 residential units: 1 x 5½, 1 x 3½, and 4 x 4½. The 5½ and 4½ units on the first floor were fully converted in 2006 from the original commercial space. Most of the windows were replaced in 2006, and over the past 10 years, the owner has renovated the flooring, kitchens, and bathrooms in most units.

It's important to note that the rent for 4 of the apartments is significantly below current market rates, presenting a great opportunity for future rent increases.

The only commercial space is a long-established depanneur (convenience store), which has been successfully operating for over 30 years. The current lease runs from 2023 to 2028, with an additional 5-year option. The depanneur operator also contributes to a portion of the commercial tax difference between 2008 and the current tax rate.

The building is easy to manage, with tenants responsible for their own electricity costs. The owner's regular expenses are limited to municipal taxes, school taxes, and insurance.

This is a turn-key property with stable income and excellent potential for long-term growth. Whether you're a first-time investor or looking to expand your portfolio, this property offers exceptional value. Don't miss out on this great opportunity!

Please note that the GST and QST only apply to the commercial portion, which is 22% of the sale price."

Included: Apartment 105 on 2e Avenue does not include any appliances The rest of the apartment: 7579 Edouard apartment 1, 2, 3, 4 and first floor 4 1/2 Apt on 7585 Edouard include 4 electrical appliances: refrigerator, stove, washing machine, dryer. All the appliances are included in the sale.

Excluded: Tenants' personal belongings